BMO's Jack Ablin on Trump's agenda, his market outlook

On Trump's tax cut agenda: "I do think that investors are taking this show me attitude … If we do get the [Trump] policy, I don't think it is baked in and I do think we will get a lift," Ablin said.

On his market outlook: "The stock market over long periods of time is essentially earnings plus dividends. If we've got an earnings yield of 3 percent and we've got a dividend yield of 2 [percent], we could get 5 percent or so, maybe a little bit more out of the equity markets," he said.

Ablin is the head of macro strategy and responsible for investment strategy at BMO Private Bank. The firm manages more than $24 billion in assets for its clients, according to its website.